NZD/USD: Our bearish view has been confirmed!
Our bearish view on NZD/USD has been confirmed today.
The Daily shows a big red candle which broke its TS. Prices should move to their KS @ 0.66971 which will react as a support. If it breaks below, the prices could take advantage of the very thin KUMO to cross it and confirm the bearish trend. The current LS has still room to go down.
H4 shows that the KUMO has been broken once then prices attempted to get back in again but were definitely rejected from it. The next support is @ 0.67029 (extension of previous SSB), the LS’s movement will determine the continuation of the movement or not. In case it enters its KUMO chances of a downtrend continuation are increasing.